Who Is Most Likely to Benefit from Inflation

question 96

Multiple Choice

Who is most likely to benefit from inflation?

• A)Retired people
• B)Lenders
• C)Borrowers
• D)Low-income consumers
• E)Government

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Definitions:

Income Elastic

Describes a situation where the demand for a good or service changes in response to changes in consumers' income levels.

Agricultural Products

Goods that are produced through farming and agriculture.

Short-run Problem

Temporary issues faced by businesses or economies that do not affect the long-term performance, often related to fluctuations in demand or supply.